1. A businessman deposited P 15, 000 in the bank for 5 years. How much can be withdrawn if the interest is charged at 12% per year simple interest?
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1. A businessman deposited P 15, 000 in the bank for 5 years. How much can be withdrawn if the interest is charged at 12% per year simple interest?
2. Dr. Malabago borrows P100,000 from a loan firm with a rate of simple interest of 15%, but the interest was deducted from the loan at the time the money was borrowed. At the end of one year he has to pay back P100,000. What is the actual rate of interest?
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- Mr. Mallari borrowed P200, 000. The terms of the loan are 10% interest for 10 years with uniform payments. He just made his third annual payment. How much principal does he still owe?Michelle borrows 5,000 for 6 years at 8% rate. At the end of 6 years, she decided to renew the loan for the amount due plus 3,000 more for 2 years at 8%. What is the lump sum due?9. While Jack was a student at the University of Georgia she borrowed $12,000in student loans at an annual interest rate of 9%. If Jack repays $1,500 per year then how long (to the nearest year) will it take him to repay the loan?
- If you deposited 2,500 SR before 6 years and now the bank gives you 4,000 SR, what is the interest rate that was given to you by the bank?URGENT! PLEASE WRITE LEGIBLE. Question Suppose we deposit $1500 into an account that pays a simple interest rate of0.5% each month. Find the amount of interest earned at the end of 3 years?11. What is the value of the bank account at the end of 25 years if the initial deposit is $25,000 at a rate of interest of 7% per annum.
- Suppose you need to borrow $15000 to finance a purchase of a new car for a period of 4 years. You bank offers you a loan with 5% annual interest rate and a fixed monthly payment of $345. What is the interest owed, principal paid and the principal outstanding after the first 2 monthly pay- ments? Hint: do not forget to convert the term of the loan and the interest rate to monthly frequency1.Find the present value of $20800 in 4 months at 12% simple interest. a)$200 b)$200,000 c)$2000 d)$20000 2.The simple interest on a $6500 loan at 15% for 9 months is. a)$731.25 b)$7312.50 c)$73.13 d)$2925 3. If we deposit $5000 in an account that pays 9% per year. Find the amount of simple interest earned during 8 months. a)$3000 b)$300 c)$360 d)$3600 4.The simple interest charged on a loan amount of $8500 for 2 years was $1275. What rate of interest was charged a)22.5% b)3.75% c)15% d)7.5% 5.What rate of simple interest will make a principal double itself in 6 years. a)16.67% b)8.33% c)33.33% d)4.16% 6.Find the present value of $20800 in 4 months at 12% simple interest. a)$200 b)$200,000 c)$2000 d)$20000And we took out a loan for 146 days and was charged simple interest rate of 12.5 total interest he paid was $245. How much money did Henry borrow?
- As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI (in $), using this table and the monthly PITI (in $) for the mortgage. (Round dollars to the nearest cent.) Amount Interest Financed Rate $220,000 7.50% Term of Loan (years) 25 $ Monthly PI Annual Property Tax $6,543 Annual Insurance $2,126 $ Monthly PITII thought the formula needed to find the interest rate is i= (FW/PW) ^ (1/# of years) - 1. frim what i understand givens are F = 100000, P = 80000, n = 15. and i dint know why A is given but its 5000. I need this type of notation (A/P, i%, 15) not pure math notation Vi paja (e) $5,000 now for $225 at the end of each year 3-9. A company can either buy certain land for outdoor storage of equipment or lease it on a 15-year lease. The purchase price is $80,000. The annual rental is $5,000 payable at the start of each year. In either case, the company must pay property taxes, assessments, and upkeep. It is estimated that the land will be needed for only 15 years and will be salable for $100,000 at the end of the 15-year period. What rate of return before income taxes will company receive by buying the land instead of leasing it? (Ans. 7.7%) 100 for a prepaid16. Mr John Week borrowed $ 2,400 at 1% per month payable in 24 equal end-of-the month payments. How much money of the loan remains unpaid immediately after he has paid the 12th payment?